U.S. stock-index futures climbed on Monday, pointing to a positive start to the year as 2022’s first day of trading was getting under way. Among stocks on the move, shares of Tesla surged after record-breaking quarterly sales.
How are stock-index futures trading?
- S&P 500 futures ES00, +0.36% rose 0.6% to 4,789
- Dow industrials futures YM00, +0.31% climbed 144 points, or 0.4%, to 36,370
- Nasdaq-100 futures NQ00, +0.39% gained 0.7% to 16,438
Stocks fell Friday on the last trading day of 2021, with the Dow DJIA, -0.16% dipping 59.78 points, or 0.2%, to close at 36,338.30, while the S&P 500 SPX, -0.26% slipped 12.55 points, or 0.3%, to finish at 4,766.18, and the Nasdaq Composite COMP, -0.61% dropped 96.59 points, or 0.6%, to end at 15,644.97.
For 2021, the S&P 500 soared 26.9%, beating both the Nasdaq’s 21.4% rise and the Dow’s 18.7% climb.
What’s driving stock markets?
Wall Street will start the year with a number of concerns, including the surge in COVID-19 cases spurred by the rapid spread of the omicron coronavirus variant and the likelihood of multiple interest-rates hikes by the Federal Reserve, expected later this year.
“The omicron variant is spreading like wildfire but hospitalizations remain under control and most governments seem wary of going back to lockdowns, feeding optimism that this wave won’t inflict much damage on the global economy,” said Marios Hadjikyriacos, senior investment analyst at XM, in a note to clients.
Travel chaos was greeting the start of the year, with more than 2,600 U.S. flights canceled on Sunday, amid winter storms and shortages of workers due to the fast-spreading omicron variant. Federal offices were also shut in Washington, D.C., as winter weather bore down on the mid-Atlantic.
Helping drive positive sentiment on the first trading day of 2022, shares of Tesla TSLA, -1.27% climbed 6%, after the electric-car maker delivered more than 308,000 vehicles in the fourth quarter, blowing away analysts’ expectations. Deliveries surged about 87% in 2021.
Economic data on tap this week will include Friday’s employment report, and the minutes of the latest Federal Open Market Committee meeting due midweek.
How are other assets trading?
- The yield on the 10-year Treasury note TMUBMUSD10Y, 1.588% was trading around 1.537%.
- The ICE U.S. Dollar Index DXY, -0.03%, a measure of the currency against a basket of six major rivals, fell 0.3%.
- Oil futures rose, with West Texas Intermediate crude for February delivery CLG22, -0.97% up 0.2% at $75.37 a barrel.
- Gold futures GC00, -1.09% for February delivery GCG22, -1.09% fell 0.5% to $1,819 an ounce, after 2021 marked the fastest annual fall since 2015.
- Bitcoin BTCUSD, +0.11% was up 0.5% at $47,293.
- The Stoxx Europe 600 SXXP, +0.46% rose 0.6%.
- Several Asian markets were closed for holidays. The Hang Seng Index HSI, -0.53% fell 0.5% and the Korea KOSPI 180721, +0.37% rose 0.3%.